Legal Question in Bankruptcy in Nevada

Re: Selling a house

Here is the pertinent Nevada law on point:

STATEMENT FROM BENEFICIARY OF DEED OF TRUST

NRS 107.200 Contents of statement regarding debt secured by deed of trust. Except as otherwise provided in NRS 107.230, the beneficiary of a deed of trust secured on or after

October 1, 1995, shall, within 21 days after receiving a request from a person authorized to make such a request pursuant to NRS 107.220, cause to be mailed, postage prepaid, or sent by

facsimile machine to that person a statement regarding the debt secured by the deed of trust. The statement must include:

1. The amount of the unpaid balance of the debt secured by the deed of trust, the rate of interest on the unpaid balance and the total amount of principal and interest which is due and

has not been paid.

2. The amount of the periodic payments, if any, required under the note.

3. The date the payment of the debt is due.

4. The period for which real estate taxes and special assessments have been paid, if that information is known to the beneficiary.

5. The amount of property insurance covering the real property and the term and premium of that insurance, if that information is known to the beneficiary.

6. The amount in an account, if any, maintained for the accumulation of money for the payment of taxes and insurance premiums.

7. The amount of any additional charges, costs or expenses paid or incurred by the beneficiary which is a lien on the real property described in the deed of trust.

8. Whether the debt secured by the deed of trust may be transferred to a person other than the grantor.

(Added to NRS by 1995, 1519)

NRS 107.240 Grounds for refusal to deliver statement. If the debt secured by a deed of trust for which a statement described in NRS 107.210 has been requested is subject to a

recorded notice of default or a filed complaint commencing a judicial foreclosure, the beneficiary may refuse to deliver the statement unless the written request for the statement is

received before the publication of a notice of sale or the notice of the date of sale established by a court.

(Added to NRS by 1995, 1520)

Selling our house in Chapter 13

To sell any property while in Bankruptcy, you must have permission from the Court. That means you must file a Motion and get a Court order. The Court usually requires the Trustee to agree to the sale.

There is no easy or quick answer to your question. I wonder if you filed a Chapter 13 because you needed to save your house from foreclosure. If so, you may need to apply to the Court to change your bankruptcy plan or even convert or dismiss your case because selling your house results in many other changes to your financial circumstances. There are many things to consider in making these kinds of decisions, which is why you should talk to your attorney.

If you didn't hire an attorney to represent you, I understand why you are confused. Chapter 13 is a very complex process and without substantial experience and familiarity with all of the laws and the facts, it is impossible for me to explain the benefits and risks of all of the options so that you can make a wise decision.

Good luck and be careful!